A price floor is
A) a legal maximum on the price at which a good can be sold.
B) often imposed when buyers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price floor.
C) a source of efficiency in a market.
D) a legal minimum on the price at which a good can be sold.
Correct Answer:
Verified
Q230: Figure 6-1 Q231: The presence of a price control in Q232: Suppose the equilibrium price of a physical Q233: If a price ceiling is binding, then Q234: If the government imposes a binding price Q236: The imposition of a binding price ceiling Q237: To say that a price ceiling is Q238: Figure 6-2 Q239: Which of the following observations would be Q240: Figure 6-2 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
Graph (a)
Graph (b)
A)there
